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Guangzhou-based start-up Singbada, a digital supply chain provider for Chinese fast fashion giant Shein, said Tuesday it secured a pre-Series A investment to develop its supply chain software and management business, according to KrAsia. The total amount of the funding secured was not disclosed. The round was led by Xiang He Capital and existing backer Weed Ventures.
The move comes as more companies adopt flexible supply chain solutions to allow them to be more efficient and responsive to consumer demands. The start-up’s strength lies in its ability to produce standardised products in small batches in three to ten days, according to founder Li Yong. More clothing manufacturers will take inspiration from Shein’s success and use the services of providers like Singbada for flexible supply chain management, Li Yong said in an internal memo in June 2021.
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Shein did not manage to acquire Topshop, but it could now be looking for other struggling retailers to cement its position as China’s leading exporter of ultra-fast fashion with global ambitions.
